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By Staff Report / Wednesday, November 24th, 2010 / Banking Industry, Latest news / Comments Off on Cal Oaks merger gets federal OK
Thousand Oaks-based California Oaks State Bank and Encinco-based California United Bank said Nov. 24 that they’ve received the green light from federal banking regulators to complete their proposed acquisition deal.
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By Editorial Board / Monday, November 15th, 2010 / Editorials, Opinion / Comments Off on Editorial: Banks turning a big corner
Third quarter results on the banking front hint at a long-awaited turnaround in the region’s financial services industry. Pacific Capital Bancorp., the region’s largest banking institution, posted a profit for the month of September after getting a $500 million infusion from the Ford Financial group out of Texas. The bank has essentially got a new Read More →
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By Staff Report / Tuesday, November 9th, 2010 / Banking Industry, Earnings, Latest news, Tri-County Public Companies / Comments Off on Heritage Oaks reports $11.3M loss
Paso Robles-based Heritage Oaks Bancorp reported a third-quarter loss applicable to common shareholders of $11.3 million on Nov. 9, compared to a $5.6 million loss in the same quarter last year. The banking firm, the third largest based in the Tri-Counties, blamed the wider loss on a $10.5 million non-cash charge related to the valuation Read More →
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By Staff Report / Tuesday, November 9th, 2010 / Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies / Comments Off on Pacific Capital reports $28M loss, but Sept. profit
Editor’s Note: This story was updated at 4:50 p.m. Pacific Capital Bancorp lost nearly $28 million in July and August but said the first month under its new Texas owners was profitable. Texas-based private equity firm Ford Financial Fund acquired 86 percent of Pacific Capital for $500 million at the end of August. Pacific Capital Read More →
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By Marlize van Romburgh / Monday, November 8th, 2010 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Banks in no rush to repay TARP money
Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →
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By Staff Report / Saturday, November 6th, 2010 / Latest news / Comments Off on First California acquires failed Woodland Hills bank
[Editor’s note: This story has been corrected. Scroll down to the bottom for the update.] Westlake Village-based First California Financial Group acquired the assets of Western Commercial Bank on Nov. 5 after federal regulators shut down the Woodland Hills-based institution. First California will pay the Federal Deposit Insurance Corp. a half percent premium to assume Read More →
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By Staff Report / Wednesday, October 13th, 2010 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on Pacific Capital gets delisting warning
Pacific Capital Bancorp said in an Oct. 13 filing with the U.S. Securities and Exchange Commission that the Nasdaq stock market has told it to get its stock price back above $1 before April 6, 2011, or potentially be delisted. The Santa Barbara-based banking firm — the holding company for Santa Barbara Bank & Trust Read More →
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